The gloomy movement of the market at the opening of the week yesterday saw the US dollar move flat in the absence of key economic data to drive price movements.
Investors are still cautiously awaiting the release of the latest data as an indication of the probability of an interest rate cut by the Federal Reserve (Fed) at its September meeting.
The focus in the New York session tonight will be on the producer price index (PPI) data of the United States (US) which measures changes in the price of goods and services at the producer level.
This data will give an initial impression of the main focus data of the week on Wednesday which is the consumer inflation (CPI) which is the main indicator for the Fed for their monetary policy decisions.
Market sentiment remained volatile which brought concerns from last week over the risk of a global recession, but investors were calmer after witnessing a recovery in the stock market again.
In this evening's European session, investors will examine the UK jobs report which will influence the movement of the Pound currency in the market.
The report will also be the central bank's focus for further monetary policy setting after deciding to lower interest rates at the previous meeting.
Other major currencies in the market will follow the movement of the US dollar ahead of important data to be published.
While the Yen remains gloomy after losing its strengthening momentum in the past week with concerns remaining focused on the decline of the Japanese stock market.
